What might the implications of Great Britain’s vote to leave be from a VAT perspective?

As the UK must give the European Council notice of intention to withdraw, there is likely to be a period where current law applies, both EU and UK law whilst a Brexit agreement is negotiated. All treaties would cease to apply from entry into force of the withdrawal agreement, or two years from the date of notice. We do not expect a considerable change for at least 2 years.

Which areas of VAT law might change in a UK free from the EU VAT directive?

In the short term at least, it is unlikely that the UK government will rip up VAT law – VAT accounts for >20% of UK tax revenues, is a relatively stable, understood tax – and thereforewholesale changes are unlikely. Read More »